Finance group pulls plug on £3bn float
Swiss Re has pulled the plug on the £3bn flotation of ReAssure, its Shropshire headquartered life insurance business, blaming weak investor demand.
ReAssure Group confirmed its plans to float last month and trading in the shares had been due to start this week.
However, Swiss Re announced today it has aborted plans for the listing in response to “heightened caution and weaker underlying demand” in the UK primary market from large institutional investors.
Swiss Re’s group chief financial officer John Dacey said: "While... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...